ESSA Bancorp, Inc. Announces Fiscal 2018 Second Quarter, First Half Financial Results

Apr 12, 2019

STROUDSBURG, PA / ACCESSWIRE / April 25, 2018 / ESSA Bancorp, Inc. (the "Company") (NASDAQ ESSA) today reported net income of $2.3 million, or $0.21 per diluted share, for the quarter ended March 31, 2018, compared with net income of $1.6 million, or $0.15 per diluted share, for the same quarter last year. For the six months ended March 31, 2018, the Company reported net income of $625,000 or $0.06 per diluted share compared to $3.6 million or $0.34 per diluted share for the six months ended March 31, 2017. Results for the six months ended March 31, 2018 reflect a one-time charge to income tax expense of $3.8 million related to the reduction in the carrying value of the Company's deferred tax assets, which resulted from the reduction in the federal corporate income tax rate under the Tax Cuts and Jobs Act of 2017.

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